For Your Information - September 1999

Y2K Testing Not Required For Legacy CRD And PC FOCUS

Due to the availability of the new Web Central Registration Depository (CRDSM) system and Web-Based FOCUS filing system, the National Association of Securities Dealers, Inc. (NASD®) does not require Year 2000 testing of their predecessor systems - Legacy CRD and PC FOCUSSM. The new systems - Web CRD and Web-Based FOCUS - have successfully completed Year 2000 testing.

Y2000 Update - December 1999

December 1999

SEC—Year 2000 Recordkeeping Rule

Effective August 31, 1999, the Securities and Exchange Commission (SEC) adopted SEC Rule 17a-9T (the Rule) relative to Year 2000. The Rule, which was originally proposed in March 1999, is intended to assist broker/dealers, the SEC, self-regulatory organizations (SROs), and the Securities Investor Protection Corporation (SIPC) in identifying all securities positions carried by a broker/dealer and the location of the securities in the event that a broker/dealer experiences Year 2000 problems.

For Your Information - January 2000

New Investment Advisers' Qualification Exams Now In Use

Two qualification examinations for investment advisers have recently been updated. New versions of the Series 65 (Uniform Investment Adviser Law Exam) and Series 66 (Uniform Combined State Law Exam) exams became effective on January 1, 2000. The revised Series 65 covers economics, investment vehicles, and investment strategies, as well as securities law and ethics. Applicants will have 180 minutes to complete the 130 multiple choice question exam. The exam fee is $110.

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